Corporate finance firm REC to issue multiple-tenor bonds, say bankers | Company News – Business Standard

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India’s REC plans to raise funds through two bonds, one maturing in three years and two months and the other in 10 years, three bankers said on Friday.

 


The state-run company plans to raise up to 30 billion rupees ($361.31 million), including a greenshoe of 25 billion rupees via shorter-tenor bonds, and up to 25 billion rupees, including a greenshoe of 20 billion rupees via 10-year notes.


REC has invited bids for both the bond issuances on Wednesday.

 


Here is the list of deals reported so far on Feb. 16: Issuer Tenure Coupon (in per cent) Issue size (in Rating bln rupees)* Bidding date REC 3 years and To be decided 5+25 Feb. 21 AAA (India 2 months Ratings, Icra) REC 10 years To be decided 5+20 Feb. 21 AAA (India Ratings, Icra) Tata 3 years 8.10 5+8 Feb. 20 AAA(Crisil, Capital Housing Icra) Finance LIC Housing Finance 10 years To be decided 12+18 Feb. 20 AAA (Crisil, Feb 2034 reissue Careedge) PFC 5 years To be decided 5+25 Feb. 20 AAA (Crisil, and 2 months Icra) PFC 10 years To be decided 5+25 Feb. 20 AAA (Crisil, Icra) HDB 3 years and 8.2378 1+5 Feb. 16 AAA (Crisil, Financial Services 2 months Careedge) HDB Financial Services 4 years and To be decided 1+1.50 Feb. 16 AAA (Crisil, Nov 2028 reissue 9 months Careedge)

First Published: Feb 16 2024 | 2:09 PM IST